How long does it take to sell my house?

“How long will it take to sell my house?” This is a question investors ask all the time.

You can check out the data. For instance, in June 2024 it took 47 days to sell a house in NZ (on average). That’s just under 7 weeks.

But remember, it also takes time to list a house. It takes time to get the photos, get it ready for sale (including any repairs) and to choose an agent. So the official data is only part of the story.

So let’s dive in to honestly answer that question – “How long does it take to sell a house?”

How long does it (actually) take to sell a house?

It can easily take 12-14 weeks (3-3.5 months) to sell your house. That’s from choosing a real estate agent to eventually getting paid.

That’s because it might take 1-2 weeks to list the house. Then, it can take 7-8 weeks to find a buyer. Then, it takes 4 weeks for them to pay you the money (settle the property).

How long does it take to list my house for sale?

You’ll typically use a real estate agent when you sell your house.

It takes time to find an agent, meet them, and decide to use them. Then you’ll need to organise photos and videos. That way your property stands out online and looks good to buyers.

Before those photos you might do minor fix-ups to the property. You may even decide to stage the property, using professional furniture. This takes time to organise.

This generally takes at least a week in summer. In winter, it typically takes at least 2 weeks. That’s the time between choosing an agent to listing your property online. 

It takes a bit longer in winter because you don’t want to take photos when the weather is bad.

What about finding a buyer? How long does that take?

Once your property is listed, you need to find a buyer.

The property market was hot in 2020-2021, so it didn’t take long to sell a house (just over 4 weeks on average).

Today, it takes 7-8 weeks to sell a house (on average). Houses are selling a bit quicker than in early 2023, but it still takes a bit more time in 2024.

Some of this is down to high interest rates, rising unemployment, and a slow economy.

This data is based on the time it takes the current agent to sell the property.

In slow markets, sellers might change agents a couple of times before finding a buyer. That total time won’t show up in these numbers.

Keep in mind, too, that not every property that comes to market sells.

Around a third of properties listed are eventually withdrawn. That means they were taken off the market and de-listed.

The month you choose to sell matters

According to REINZ, the longest median days to sell in recent history was in February 2023. Back then it took 60 days to sell a property (on average). That’s 8.5 weeks.

The shortest time was in December that same year (that month it only took 36 days).

Generally, properties that go unconditional in January and February take longer to sell. This is because they likely came on the market in November or December, but the market slows over the Christmas break.

So, the properties that sell in January and February were usually listed before Christmas.

So, if you list your property in December (and maybe even November), just be prepared that it might take a little longer to sell.

Just to be clear, that’s the time from listing the house through to the deal becoming unconditional. That means that a buyer is committed to purchasing your property, but you probably haven’t got the money yet.

When do I get paid?

Once a buyer goes unconditional on your property (they’ve committed to it), usually they have 20 working days (4 weeks) to pay.

This can change; it depends what you agree to, so this could be longer or shorter.

That’s why it usually takes 12-14 weeks (around 3-3.5 months) to sell a property.

What factors impact the time it takes to sell my property?

Your property might take longer (or shorter) to sell; it depends what’s going on at the time.

For example:

• If the market is hot, your property will likely sell faster than when the NZ property market is cold.
• As a general rule of thumb, townhouses take an extra 0.5 to 1 week to sell. That’s compared to a house. From this article based on 2023 data, apartments take the longest to sell. They take an extra 10-21 days to sell. That’s an extra 1.5 to 3 weeks compared to a house.
• Well-presented properties sell faster than poorly presented ones. So, if you professionally stage your property, you’ll likely find a buyer faster.
• If you price your property well it will sell faster. If you try to hold out for a premium price, it will often take longer to sell.

And properties in smaller regions tend to take longer to sell. Properties in larger cities, on the other hand, sell faster.